Pallas Capital Advisors LLC Buys 6,387 Shares of Bank OZK (NASDAQ:OZK)

Pallas Capital Advisors LLC lifted its stake in Bank OZK (NASDAQ:OZK) by 60.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 16,942 shares of the company’s stock after buying an additional 6,387 shares during the period. Pallas Capital Advisors LLC’s holdings in Bank OZK were worth $736,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Rhumbline Advisers boosted its stake in shares of Bank OZK by 1.6% in the fourth quarter. Rhumbline Advisers now owns 342,417 shares of the company’s stock valued at $15,248,000 after buying an additional 5,538 shares during the period. Deutsche Bank AG boosted its stake in shares of Bank OZK by 1.3% in the fourth quarter. Deutsche Bank AG now owns 34,815 shares of the company’s stock valued at $1,550,000 after buying an additional 455 shares during the period. PNC Financial Services Group Inc. boosted its stake in shares of Bank OZK by 8.3% in the fourth quarter. PNC Financial Services Group Inc. now owns 5,832 shares of the company’s stock valued at $260,000 after buying an additional 445 shares during the period. Smartleaf Asset Management LLC boosted its stake in shares of Bank OZK by 176.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 761 shares of the company’s stock valued at $34,000 after buying an additional 486 shares during the period. Finally, GAMMA Investing LLC boosted its stake in shares of Bank OZK by 5,021.2% in the first quarter. GAMMA Investing LLC now owns 243,668 shares of the company’s stock valued at $10,587,000 after buying an additional 238,910 shares during the period. 86.18% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on OZK. Morgan Stanley cut their target price on Bank OZK from $58.00 to $54.00 and set an “equal weight” rating for the company in a research note on Thursday, March 13th. Wells Fargo & Company cut their target price on Bank OZK from $48.00 to $40.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 9th. Keefe, Bruyette & Woods cut their target price on Bank OZK from $50.00 to $48.00 and set a “market perform” rating for the company in a research note on Tuesday, April 22nd. Finally, Stephens cut their target price on Bank OZK from $59.00 to $54.00 and set an “equal weight” rating for the company in a research note on Monday, April 21st. Eight research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $50.86.

Bank OZK Stock Down 1.4%

Shares of NASDAQ:OZK opened at $45.72 on Thursday. The company has a fifty day moving average of $43.23 and a 200-day moving average of $45.64. The company has a market capitalization of $5.19 billion, a PE ratio of 7.45 and a beta of 0.85. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.02 and a current ratio of 1.03. Bank OZK has a 52-week low of $35.71 and a 52-week high of $53.64.

Bank OZK (NASDAQ:OZK) last announced its quarterly earnings results on Wednesday, April 16th. The company reported $1.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.42 by $0.05. The company had revenue of $409.23 million during the quarter, compared to the consensus estimate of $403.05 million. Bank OZK had a net margin of 25.83% and a return on equity of 13.90%. During the same period in the prior year, the business earned $1.51 earnings per share. On average, equities analysts predict that Bank OZK will post 6.02 EPS for the current fiscal year.

Bank OZK Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 21st. Stockholders of record on Monday, April 14th were issued a dividend of $0.43 per share. The ex-dividend date of this dividend was Monday, April 14th. This is an increase from Bank OZK’s previous quarterly dividend of $0.42. This represents a $1.72 annualized dividend and a dividend yield of 3.76%. Bank OZK’s dividend payout ratio is 28.20%.

Bank OZK Profile

Bank OZK provides various retail and commercial banking services for individuals and businesses in the United States. The company offers deposit services, including non-interest bearing checking, interest bearing transaction, business sweep, savings, money market, individual retirement, and other accounts, as well as time and reciprocal deposits.